Founded in 1902, JC Penney is one of America’s leading retailers, operating more than 1,000 department stores throughout the United States and Puerto Rico, as well as offering products online and through catalogs. In January 2012, Johnson was recruited by J.C. Penney investors and left the United States’ second-most-valuable company, Apple, to join the J.C. Penney. He wanted a new challenge. CEO Ron Johnson introduced a plan to rebrand the department store J.C. Penney. The plan was involved and would completely restructure the department store as America knows it. Clear objectives were set. A plan was put into practice that would initiate a three-tiered pricing structure and remove all sales and promotions. A new logo was created. Stores were to be completely redesigned, and turned into 100 mini-stores within each J.C. Penney. Unfortunately, the plan was executed sloppily and J.C. Penney took a 25% loss in just one year. Ron Johnson was fired after only 17 months. J.C. Penney is now searching for a way to survive.…
Ron Johnson made some bad decisions that caused him to only last as the CEO of JCPenney for seventeen months (Kinicki & Williams, 2013). His bad decisions consisted of misreading what the shoppers wanted, no testing of ideas prior to execution, distancing himself from the essential consumers, misread the JCPenney brand (Tuttle, 2013).…
In the article “Is JC Penney’s Makeover the Future of Retailing”, the author (K. Girard) focuses on Ron Johnson, the new CEO of J.C. Penney and his innovations and plans to transform the store. Mr. Johnson comes to JC Penney with an impressive record of success transforming businesses and their retail strategy. He is credited with the transformation of the Target chain and for leading Apple’s retail effort with such innovations as the Genius bar.…
Founded in 1902 by James Cash Penney, J. C. Penney Corporation, Inc. (JCP) is a chain of mid-range department stores based in Plano Texas. JCP currently has 1,060 department stores in 49 U.S. States in operation. JCP stores sell conventional merchandise as well as leased departments. Some examples of leased departments are Sephora, optical centers, portrait studios, and jewelry repair. Before 1966, most of its stores were located in downtown areas. As shopping malls became more popular in the latter half of the 20th century, J. C. Penney began relocating and developing stores in malls as other companies had done. In more recent years, the company began opening some standalone stores. The company has been an Internet retailer since 1998. It…
This paper is the final case study of Macy’s Incorporated and it is designed to provide a financial analysis of the company. Financial data will be spread over a three year time period using real numbers from financial statements that will be used to analyze Macy’s performance. Analysis will include stock data, financial ratios, common size analysis, cost of capital, and various calculations…
"This is not a turn-around situation," George Bradt, managing director of executive consulting firm PrimeGenesis told us. "This is a 'turn off the lights' situation."…
There is a long ongoing battle that is being waged between unions and business since the rise of large corporations. Unions were created to fight higher official corruption and to protect workers from unfavorable conditions and unfair treatment by top-level officials, companies take extreme measures to prevent the creation of unions within their organizations. There are positive and negative effects for both nonunion and unionized companies. Preventing workers from unionizing is a difficult task for organizations especially as they expand into the global arena. More is demanded from employees usually with little added benefits (thus the reason for unionization). A notable successful company is Trader Joe’s, who’s business strategy and cultural…
The most important thing that J.C Penney should look into is marketing information which is accessible through marketing information system and marketing research.…
James Cash Penney opened a dry-goods store in Kemmerer, WY in 1902, and this was the beginning of what is known as the JC Penney retail chain today. "J.C. Penney is executing a strategic Long Range Plan that consists of four integrated strategies aimed at building a deeper, more enduring relationship with our customers, increasing the engagement and retention of our Associates, and delivering industry leading financial performance to our shareholders”(Edwards, 2013). This is J.C. Penney’s current vision statement as J.C. Penney continues to struggle to get back on track.…
Costco Inc. is a wholesale retailer in the US with an approximate 680 memberships. The company serves 71 million members both in the US and outside countries. The stores offer retailing prices on its products they offer including alcoholic beverages. The company faces competition from companies such as Walmart and Amazon. The company will benefit in increasing their customer base if they develop analysis techniques to understand its customer behaviors and trends (Berman, 1996).…
1. How did SAS Enterprise Miner help better understand the impact of online marketing initiatives?…
I think Wal-Mart will be able to open additional stores in other countries. Wal-Mart will have to adapt its stores to the cultures of the country that they are in. They will have to know that each country will have different ways of buying their products. I hope they will save themselves and headache if they would research the way the people purchased products. That way they will be able to succeed in any market.…
The goals of the company as a whole means the broad, usually non-quantitative, long run plans relating to organization. As we know, Grand Jean Company has been one of the world’s largest clothing manufacturers, which means it is at a relatively mature stage with variety lines of dress and jeans for men, women and boys. Therefore, according to the BCG Model, described the Business Unite Missions, the company 's strategic goal should be “Hold” in the long run. And in order to achieve the goal, the company should maintain the high standard in growth rate, cash source, market share and cash use. Meanwhile, Grand Jean should be stated as “Harvest” right now, in terms of the stable growth rate but not high by now.…
Wal-Mart Stores, Inc. operates retail stores in various formats in the United States and internationally. It has two segments: The Wal-Mart Stores and The SAM'S CLUB. The Wal-Mart Stores segment includes Discount Stores, Supercenters, and Neighborhood Markets in the United States, as well as Walmart.com. It offers apparel for women, girls, men, boys, and infants; domestics, fabrics, and notions; stationery and books; shoes; housewares; hardware; electronics; home furnishings; small appliances; automotive accessories; horticulture and accessories; sporting goods; toys; pet food and accessories; cameras and supplies; health and beauty aids; pharmaceuticals; jewelry; and optical, as well as photo processing services. The Neighborhood Markets include dry grocery, meat, produce, deli, bakery, dairy, frozen foods, pharmaceuticals, photo processing, health and beauty aids, household chemicals, paper goods, general merchandise, and pet supplies departments. The SAM'S CLUB segment comprises the warehouse membership clubs in the United States and samsclub.com. It offers hardgoods, softgoods, software, electronics, jewelry, sporting goods, toys, tires, stationery and books, institutional-size grocery items, and selected private labels. As of July 31, 2005, Wal-Mart operated 1,276 Wal-Mart stores, 1,838 Supercenter, 92 Neighborhood Markets, and 556 SAM's Clubs in 50 states in the United States. The company operates various retail formats in Argentina, Brazil, Canada, Germany, Mexico, Puerto Rico, South Korea, and the United Kingdom. It operates 261 Canadian Wal-Mart stores and SAM's Clubs, 11 units in Argentina, 150 units in Brazil, 88 units in Germany, 16 units in South Korea, 697 units in Mexico, 54 units in Puerto Rico, and 292 units in the United Kingdom, as well as 48 units in China under joint venture agreements. Wal-Mart has partnership with Diageo plc. The company was founded in 1945 and is based in Bentonville,…
Kimberly-Clark Corp. is using information technology to enhance their business. A recent innovation of virtual reality products has moved the company that was traditionally tasked with the creation of consumer goods into a new area of business (O’Brien, J. & Marakas, G. 2011). The company has taken a step towards the future using virtual reality to develop new ways to market and sell products to consumers. These products include those produced outside of their company, giving them new channels of communication and business dealings with other organizations. Kimberly Clark Corp. has developed a high tech studio contained within a basement of a facility in Appleton, Wisconsin to house the virtual reality system. Upon the creation and development…
